Georgia hotel occupancy slightly increases in the second quarter.
After Q1 of this year, the Georgia hotel market continued to improve in performance as leisure travel began to resume with warmer weather on the horizon. In May 2022, the Federal Reserve increased interest rates in an effort to combat inflation. As a result, the key performance indicators took a dip, with investor uncertainty on the rise. The months of June and July had a 75 basis point increase in the prime rate causing greater uncertainty in the market. This increase was the largest single increase by the Fed since 1994. ADR for the month of April was the highest it has been in the trailing twelve months as a result of the Augusta and Savannah markets performing at new highs.
What you'll learn in this quarter's Georgia Hotel Industry Report:
- Georgia's hotel inventory
- Georgia hotel room new supply
- Georgia hotel room construction
- Georgia hotel occupancy rate
- Georgia revenue per available room (RevPar)
- Hotel average daily rates